China's November Caixin Manufacturing PMI at 49.2... Down 0.7 Points from Previous Month
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[Asia Economy Reporter Park Byung-hee] Chinese financial information company Caixin announced on the 1st (local time) that China's manufacturing Purchasing Managers' Index (PMI) for November fell by 0.7 points from October to record 49.9.
A Caixin manufacturing PMI above 50 indicates expansion in the manufacturing sector, while below 50 indicates contraction.
The Caixin manufacturing PMI showed contraction at 49.2 in August, indicated expansion in October, and then fell below 50 again after one month. The manufacturing PMI for September was 50.0.
Caixin calculates the manufacturing PMI based on surveys of company officials.
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Unlike Caixin PMI, the National Bureau of Statistics of China’s PMI rose in November compared to the previous month. The manufacturing PMI for November announced by the National Bureau of Statistics the day before recorded 50.1, up 0.9 points from October.
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